After breaking out of this massive pennant, the market soared to new ATHs but has since lacked the energy for follow through. We are consolidating inside of a wide 100pt range.
THIS IS NEITHER BULLISH NOR BEARISH until we know a direction (though the current trend is up).
The market is developing a substantial volume shelf above $3668.00, which I see as a very substantial level.
While my belief is that the market will grind higher and put in a quick, parabolic move up to 3880 and then 4000, I don't believe the market is ready for that yet.
AAPL, AMZN, MSFT, GOOGL, and FB will determine the market's direction. These names are still below their September highs (minus google) and when they rip, the market rips. AMZN and FB will likely consolidate until earnings in my opinion.
THIS IS NEITHER BULLISH NOR BEARISH until we know a direction (though the current trend is up).
The market is developing a substantial volume shelf above $3668.00, which I see as a very substantial level.
While my belief is that the market will grind higher and put in a quick, parabolic move up to 3880 and then 4000, I don't believe the market is ready for that yet.
AAPL, AMZN, MSFT, GOOGL, and FB will determine the market's direction. These names are still below their September highs (minus google) and when they rip, the market rips. AMZN and FB will likely consolidate until earnings in my opinion.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.